Edesa Biotech, Inc. (NASDAQ:EDSA) Short Interest Update

Edesa Biotech, Inc. (NASDAQ:EDSA) was the recipient of a large drop in short interest during the month of December. As of December 31st, there was short interest totaling 27,859 shares, a drop of 20.0% from the December 15th total of 34,823 shares. Currently, 0.4% of the company’s shares are sold short. Based on an average daily trading volume, of 57,428 shares, the days-to-cover ratio is presently 0.5 days. Based on an average daily trading volume, of 57,428 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.4% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Edesa Biotech in a research report on Monday, December 29th. HC Wainwright restated a “buy” rating and set a $5.00 price objective on shares of Edesa Biotech in a research note on Monday, November 3rd. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $5.00.

Edesa Biotech Stock Down 2.1%

Shares of NASDAQ EDSA traded down $0.03 during trading on Tuesday, reaching $1.43. 12,998 shares of the company traded hands, compared to its average volume of 24,444. The stock has a market capitalization of $11.91 million, a PE ratio of -1.06 and a beta of 0.13. The firm has a 50 day simple moving average of $1.59 and a 200-day simple moving average of $2.07. Edesa Biotech has a 52-week low of $1.28 and a 52-week high of $4.49.

Edesa Biotech (NASDAQ:EDSA) last announced its earnings results on Friday, December 12th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.80. The company had revenue of $0.25 million for the quarter. As a group, research analysts predict that Edesa Biotech will post -1.75 EPS for the current year.

Institutional Investors Weigh In On Edesa Biotech

An institutional investor recently bought a new position in Edesa Biotech stock. Susquehanna International Group LLP acquired a new stake in shares of Edesa Biotech, Inc. (NASDAQ:EDSA) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 14,610 shares of the company’s stock, valued at approximately $36,000. Susquehanna International Group LLP owned about 0.21% of Edesa Biotech as of its most recent SEC filing. Institutional investors and hedge funds own 5.50% of the company’s stock.

Edesa Biotech Company Profile

Edesa Biotech, Inc is a clinical-stage biotechnology company focused on the discovery and development of next-generation vaccines and immunotherapies. The company leverages a proprietary self-amplifying RNA platform to create candidates designed for both intranasal and injectable administration. Edesa’s approach aims to elicit robust mucosal and systemic immune responses, with applications spanning infectious diseases and immuno-oncology.

Among Edesa’s pipeline programs is a lead intranasal vaccine candidate targeting SARS-CoV-2, currently advancing through early-stage clinical trials.